It is important for all dental practice to have a financing plan first in place for handling dental financing. The method that most dental practices have turned to for help is to make there own affordable plans. But there are many different types of financing companies in the market, and choosing which is best for the patient can be very difficult.
By comparing the financing plans of each available type of plans and analyzing the office's billing needs, however, you can find the right dental plan. Apart from the benefits, a good medical plans have should have all the functionalities that you need to manage patients.
The plan should be able to keep track of the patient record, issue invoices, keep patient treatment history, appointments, and other records required for uncomplicated patient management without having to use other different dental financial plans on your computer to do any of the tasks.
It also enables you to have a database of your practice stored in one location and easily retrievable. It is good to know if the dental financing bills have the ability to update online in case of new updates and if not, the update process must be simple and quick.
As cash flow is the lifeblood of a dental office, a powerful billing and collections system is an absolute must. Left in the hands of someone who doesn't have the competence or motivation to stay on top of this important area, you could literally be doing a lot of dental work for free.
Whether you outsource or keep the billing and collections in-house, you must feel confident that all procedures and being coded properly and that past due amounts are being worked. Although you want to keep your costs to a minimum, this is an area where you typically "get for what you pay".